Andhra Pradesh Wants 23,000 Crore Loans In Three Months

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AP wants to get 23,000 crore loans in three monthsThe RBI has released its calendar of loans needed by states and union territories for the remaining three months of the current fiscal year. The Andhra Pradesh government has sent a proposal that it is seeking a whopping Rs 23,000 crore for the next three months.

The offer is Rs 5,000 crore in January, Rs 11,000 crore in February and Rs 7,000 crore in March. As per the rules, Andhra Pradesh can only borrow Rs 8,368 crore for the rest of the year. This means that they seek permitted loans at least three times.

The state government is allowed to take Rs 44,396.18 crore for the fiscal year, 2021-22. I have already borrowed 36,028 crores in the nine months now. Therefore, he can borrow only Rs 8,368 crore for the rest of the year. The state government plans to approach the center for additional loans.

Prime Minister YS Jagan Mohan Reddy will meet Prime Minister Narendra Modi, Home Minister Amit Shah and other ministers tomorrow in Delhi. The sources say that additional borrowing will be a top priority in his meetings with them.

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